ITT Inc. $ITT Stake Trimmed by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lowered its holdings in shares of ITT Inc. (NYSE:ITT) by 16.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 352,771 shares of the conglomerate’s stock after selling 70,102 shares during the period. Mawer Investment Management Ltd. owned about 0.39% of ITT worth $71,196,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Everhart Financial Group Inc. boosted its stake in ITT by 0.8% in the third quarter. Everhart Financial Group Inc. now owns 8,589 shares of the conglomerate’s stock valued at $1,733,000 after buying an additional 66 shares in the last quarter. Essential Partners LLC raised its stake in ITT by 9.4% during the first quarter. Essential Partners LLC now owns 1,052 shares of the conglomerate’s stock worth $200,000 after acquiring an additional 90 shares in the last quarter. Eurizon Capital SGR S.p.A. raised its stake in ITT by 9.9% during the third quarter. Eurizon Capital SGR S.p.A. now owns 1,142 shares of the conglomerate’s stock worth $234,000 after acquiring an additional 103 shares in the last quarter. Farther Finance Advisors LLC raised its stake in ITT by 7.3% during the third quarter. Farther Finance Advisors LLC now owns 1,691 shares of the conglomerate’s stock worth $341,000 after acquiring an additional 115 shares in the last quarter. Finally, Greenline Wealth Management LLC lifted its holdings in shares of ITT by 12.8% in the first quarter. Greenline Wealth Management LLC now owns 1,121 shares of the conglomerate’s stock worth $214,000 after acquiring an additional 127 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Trading Down 1.6%

ITT stock traded down $3.48 during trading hours on Friday, hitting $211.11. The stock had a trading volume of 713,022 shares, compared to its average volume of 933,253. The company has a quick ratio of 0.85, a current ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of 43.44, a P/E/G ratio of 1.52 and a beta of 1.25. ITT Inc. has a one year low of $166.96 and a one year high of $230.32. The business’s 50 day simple moving average is $202.59 and its 200-day simple moving average is $200.12.

ITT (NYSE:ITT) last announced its quarterly earnings results on Wednesday, November 4th. The conglomerate reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.18. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. ITT had a return on equity of 15.47% and a net margin of 8.07%. The business’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. On average, equities analysts predict that ITT Inc. will post 8.60 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be given a dividend of $0.3860 per share. The ex-dividend date is Friday, December 4th. This represents a $1.54 annualized dividend and a yield of 0.7%. ITT’s dividend payout ratio (DPR) is currently 31.69%.

Insider Activity at ITT

In other ITT news, CEO Luca Savi bought 5,019 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the transaction, the chief executive officer directly owned 267,373 shares in the company, valued at approximately $53,356,955.88. This represents a 1.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Graziano De sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $214.01, for a total transaction of $107,005.00. Following the sale, the chief accounting officer directly owned 6,659 shares in the company, valued at $1,425,092.59. The trade was a 6.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ITT shares. Weiss Ratings upgraded shares of ITT from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 9th. DA Davidson upped their price objective on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. BMO Capital Markets reiterated an “outperform” rating and set a $273.00 price objective on shares of ITT in a research report on Friday, August 7th. KeyCorp increased their price objective on shares of ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Wolfe Research assumed coverage on shares of ITT in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $272.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $258.78.

About ITT

ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.